Cranes Software, a global scientific and engineering software solutions provider, has announced the acquisition of the Bangalore-based analytical business solutions provider, Analytix Systems, for close to $2.5 million.
The acquisition is in line with Cranes' objective to strengthen its presence in embedded decision support intelligence, which has high potential.
Cranes already has a presence in the business analytics solutions space and the acquisition of Analytix Systems is expected to expand and strengthen its core offering.
According to a statement from Cranes, it will pay a total of about $2.5 million, of which approximately 11.5 per cent will be in cash and the balance in equity shares, to be issued over a period of two years, and will continue to invest in technology upgrades, expansion of market and building global client relationships.
Asif Khader, MD, Cranes said, "The acquisition of Analytix Systems significantly advances our presence in the high growth area of embedded analytics. Analytix Systems' technological capabilities and established IP portfolio is expected to complement Cranes' existing portfolio of software and business solutions."
Established in 1998, Analytix Systems has capabilities in the domains of mobile solutions, analysis and data mining.
The company has strengths in development and design of software products, solutions and services in the areas of identity deduping, fraud and risk management, mobile field data capture, mobile workflow automation, data storage and analytics.
